Company News for May 1, 2009

The third-largest US automaker, Chrysler, filed for bankruptcy protection yesterday. The firm is expected to undergo a 30-60 day restructuring, receiving $8 billion in government funds and creating an alliance with Italian automaker Fiat, which managed its owned turnaround in the past 5 years.

Today’s expected releases include: Allergan (NYSE:AGN), Chevron (NYSE:CVX), Clorox (NYSE:CLX), Dean Foods (NYSE:DF), and MasterCard (NYSE:MA).

Aon (NYSE:AOC) reported a first quarter as earnings at 76, 12 cents less than expected, along with a 2.7% revenue decline to $1.85 billion.

Dean Foods (NYSE:DF) reported first quarter results of 52 cents, 10 cents better than expected, as revenues dropped 12.2% to $2.7 billion with indications of a solid start to the second quarter.

Fortune Brands (NYSE:FO) reported first quarter results of $1.03, ahead of estimates by 8 cents notwithstanding revenues plunged 20.3% to $1.44 billion, as was expected.

Research in Motion (NASDAQ:RIMM) received an analyst upgrade from UBS (NYSE:UBS).

Goldman Sachs (NYSE:GS) issued $2 billion 5-year notes lacking government guarantees and a $750 million stock offering.

Citigroup (NYSE:C) announced sale of its Japanese brokerage and investment unit to Sumitomo Mitsui Financial for about $7.9 billion.

Chevron Corp. (NYSE:CVX) announced first quarter profit fell 64 percent as it, along with competitors, was distressed by lower oil and natural gas prices.

Read the full analyst report on AGN

Read the full analyst report on CVX

Read the full analyst report on RIMM

Read the full analyst report on GS

Read the full analyst report on C

Read the full analyst report on DF

Read the full analyst report on FO

Read the full analyst report on AOC

Read the full analyst report on MA